The complaint against Mr Costello said there was a potential conflict of interest between his roles as auditor of state finances for the Newman government and co-owner of lobbying firm Epstein Costello Gazard Advisory Solutions.

Advertisement

An audit by Mr Costello recommended paying down debt by selling the state's electricity and port assets and outsourcing services, such as correctional services and health.

The complaint alleged some ECG clients could benefit if the recommendations were adopted.

ECG said its only knowledge about the complaint was from reports by Fairfax Media.

"The complainant has sought to remain anonymous despite leaking the matter to the papers, obviously in an attempt to cause damage," it said.

"The fact that the CMC dismissed this matter so quickly indicates just how lacking in substance it was.

7 Mar
A complaint about former federal treasurer Peter Costello lodged with Queensland's Crime and Misconduct Commission highlights potential conflicts of interest between his job overseeing the future of the state's finances and his ownership of a lobby group representing companies that could benefit from state asset sales.

7 Mar
Deputy Prime Minister Wayne Swan has called for an investigation into potential conflicts of interest stemming from Peter Costello's ownership of a lobbyist firm and his role overseeing an audit of Queensland's finances.